I’m in a pickle. I have a lovely new job, but it’s not sustainable. Each month a set amount of money is taken from my bank account to pay off my student debt and it’s where the majority of my pay goes. It’s literally half of what I’m paying for rent and a ⅓ of what I earn at my job. Each time I go to look at my account I cry a little inside.
It seems like I’m not the only one who is feeling the pressures of their student debt weighing them down. If you type in Millennial Debt into Google there is an alarmingly high number of articles outlining how they are living with debt and how it’s affecting their lives.
I know #TheSisterpack talk frequently about our student loans and how we are attempting to pay them back, so I don’t mean to bog you all down with another article about it.
What I want to do is share how it’s a hot topic in politics and an example used when Millennials are called lazy and greedy, but not much is changing in regards to how students are paying it back with LOADS of interest.
When I describe student loans to people I say it’s a crutch. It keeps you upright and helps you keep moving forward, but once you graduate it’s ripped from you and used to hobble you all over again.
For those of you lucky enough to go to attend post-secondary in a country that offers tuition-free schooling, well I must say that I am mad jelly. Presidential hopeful Bernie Sanders and our own Prime Minister Justin Trudeau are aiming to help debt-ridden students in the future and though that gives me the warm fuzzies, it really doesn’t help my current situation.
All I can suggest is if you do get student loans, make sure you are saving away for when you graduate and the other shoe drops. You don’t want to be like me and graduate with debt that will take you nine years to pay off.
I want to end this on a more uplifting note and I leave you with this magical song that can inspire you to keep on fightin’ the good fight.
Please share your thoughts on student debt with #TheSisterpack on twitter @MoMoneyMoProg or leave a comment below!